Americans Top Productivity Charts
US. workers continue to lead the world in productivity, though many East Asian economies are quickly advancing, according to a new report by the International Labour Organization.The United Nations agency, in a study released today, puts the U.S. at the top of the global charts for productivity last year measured as “value added” per person employed each year: $63,885. The next-closest were Ireland ($55,986) and Luxembourg ($55,641).In a separate measure, value added per hour worked, Norway topped the ILO list ($37.99) followed by the United States ($35.63) and France ($35.08).
As worries mount about job losses to other nations, the United States’ leading position suggests there’s time for the government and American workers to adapt — by investing in education and new skills — before losing the nationwide edge, says Lawrence J. Johnson, the ILO’s chief of employment trends.
“For American workers and businesses, this is a very positive sign,” Mr. Johnson said in an interview. “There’s a great return on American labor. The average American worker is well-educated, well-trained, and businesses basically can have good returns on their investments by hiring them.”
Other regions “are gaining, but they will not in the near future be at the level the U.S. is at, with all things being equal,” Mr. Johnson said. Productivity of East Asian workers almost doubled over the last decade but remains about one-fifth the level of industrialized countries. The study said developed nations’ improvements came largely from better investment in training, equipment and technology.
About 1.5 billion people, or half of those in the labor market, are considered “vulnerable to poverty,” largely working without key protections such as social security or bargaining power, the U.N. report said.
Almost 1.3 billion working-age people were labeled “working poor,” living with their families on less than $2 per day per family member.
Americans continued to work longer than people in most developed nations, putting in more than 1,800 hours of work on average last year. Numerous Asian economies — South Korea, Bangladesh, Sri Lanka, Hong Kong, China, Malaysia and Thailand — had workers each putting in more than 2,200 hours a year on average. Workers in most European countries came in at the other end: those in Belgium, Denmark, France, Germany, the Netherlands and Sweden each put in less than 1,600 hours per year.
As worries mount about job losses to other nations, the United States’ leading position suggests there’s time for the government and American workers to adapt — by investing in education and new skills — before losing the nationwide edge, says Lawrence J. Johnson, the ILO’s chief of employment trends.
“For American workers and businesses, this is a very positive sign,” Mr. Johnson said in an interview. “There’s a great return on American labor. The average American worker is well-educated, well-trained, and businesses basically can have good returns on their investments by hiring them.”
Other regions “are gaining, but they will not in the near future be at the level the U.S. is at, with all things being equal,” Mr. Johnson said. Productivity of East Asian workers almost doubled over the last decade but remains about one-fifth the level of industrialized countries. The study said developed nations’ improvements came largely from better investment in training, equipment and technology.
About 1.5 billion people, or half of those in the labor market, are considered “vulnerable to poverty,” largely working without key protections such as social security or bargaining power, the U.N. report said.
Almost 1.3 billion working-age people were labeled “working poor,” living with their families on less than $2 per day per family member.
Americans continued to work longer than people in most developed nations, putting in more than 1,800 hours of work on average last year. Numerous Asian economies — South Korea, Bangladesh, Sri Lanka, Hong Kong, China, Malaysia and Thailand — had workers each putting in more than 2,200 hours a year on average. Workers in most European countries came in at the other end: those in Belgium, Denmark, France, Germany, the Netherlands and Sweden each put in less than 1,600 hours per year.
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